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January Construction Spending Trends Slightly Downward

Washington, DC, March 3,
2015—Construction spending during January was estimated at a seasonally
adjusted rate of $971.4 billion, 1.1% below the revised December estimate of
$982.0 billion, reported the U.S. Census Bureau of the Department of Commerce.

The January figure is 1.8%
above the estimate for the month.

The estimated seasonally
adjusted annual rate of public construction spending was $273.8 billion in
January, 2.6% below the revised December estimate. Education construction came
in at a seasonally adjusted annual rate of $58.9 billion, 3.4% below the
revised December estimate.

Spending on private
construction was at a seasonally adjusted rate of $697.6 billion in January,
0.5% below the revised December rate. Residential construction was at a
seasonally adjusted rate of $351.7 billion during the first month of 2015, 0.6%
below the revised December estimate, and nonresidential construction was at a
seasonally adjusted rate of $345.9 billion, 1.6% below the revised December
estimate.